# Gold holds firm after US Fed rate cut, softer dollar

> The Federal Reserve cut its benchmark rate by a quarter point to a 4.50%-4.75% range, as widely expected, and noted that the job market has generally eased. Gold rose more than 1% as the dollar retreated.

- Date: 2024-11-07 · published 2024-11-07T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/27332-gold-holds-firm-after-us-fed-rate-cut-softer-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer dollar makes dollar-priced commodities cheaper for foreign buyers, which can support feed grain and meal prices. Lower US rates also weaken the dollar, which tends to lift commodity prices broadly.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-01 | [Gold extends record rally on Fed rate-cut bets, softer dollar](https://feedsoft.ai/events/29144-gold-extends-record-rally-on-fed-rate-cut-bets-softer-dollar.md) | -0.1% | -1.4% |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |
| DXY | 2023-11-27 | [US dollar weakens as Fed rate cut view weighs](https://feedsoft.ai/events/33364-us-dollar-weakens-as-fed-rate-cut-view-weighs.md) | -0.2% | -1.0% |
| DXY | 2026-07-29 | [Dollar slips as Fed holds rates steady \| Reuters](https://feedsoft.ai/events/8418-dollar-slips-as-fed-holds-rates-steady-reuters.md) | -0.9% | -2.0% |
| DXY | 2025-12-18 | [GBP/USD firm as BoE rate cut lifts Sterling, soft CPI weighs on Dollar](https://feedsoft.ai/events/21760-gbp-usd-firm-as-boe-rate-cut-lifts-sterling-soft-cpi-weighs-on-dollar.md) | -0.6% | -0.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-hits-over-3-week-low-dollar-gains-trump-win-fed-verdict-looms-2024-11-07/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.